There is a major ‘squeeze’ on the law firm business model and it is not going away

“There is a major ‘squeeze’ on the law firm business model and it is not going away” is the title of an inimitable Edwin Reeser piece.

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NewLaw firm crosses the Tasman

Only a NewLaw firm would make a statement like this on its website: “We provide top legal talent on call; strategy and continuous improvement consulting; and technology solutions”. This statement is not necessarily noteworthy per se, but the speed with which lexvoco is spreading is truly remarkable.

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There’s Gold in Them Servers

In There’s Gold in Them Servers, Ken Grady tells the modern BigLaw version of an early Californian gold rush story.

On January 24, 1848, John Wilson Marshall was building a water-powered sawmill for John Sutter. The mill was close to Coloma, California, near the base of the Sierra Nevada mountains. Marshall was a carpenter who had emigrated from New Jersey. Although Marshall wasn’t looking for gold, he later claimed that he knew immediately upon seeing the flakes what he had found. 

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Remaking the law firm ecosystem

As much as talk in legal and broader commerce overall these days centres on David v. Goliath or even the clash of the titans (think BigLaw), there’s a very faulty set of assumptions around this type of thinking. Taking the view that it’s us versus them unduly limits the possibilities not just for better delivery of current services but also the creation of new forms of value in the best interests of the ultimate client. An ecosystem approach with some level of coordination among many contributors provides the best and most interesting outcomes. It’s also a key driver of innovation.

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The firm of the future is in fact the firm of now

The evidence has been collected. 

The submissions have been heard. 

Judgment has been handed down – the incumbent law firm business model is broken.

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